"Today’s Tea Party movement began in early 2009 in reaction to the American government’s efforts to stabilize the banking system and keep the nation from sinking into economic turmoil. In October, 2008 the Democrat-controlled Congress passed a “Wall St. bailout” bill (the “TARP” bill) proposed by the Bush administration, which Bush immediately signed. This bill deeply offended some economic conservatives who held a “let the chips fall where they may, no matter what” view of free market economics. Anger among economic conservatives rose yet higher in early 2009 when Congress responded to President Obama’s call for a massive economic stimulus to keep the recession from turning into a Depression. Almost every major Western government, whatever its political stripe, went deeply into the red at this time to keep its economy afloat. Republicans in Congress voted massively against the bill, and Democrats took the heat for trying to stop a recession that the Republicans had largely caused by deregulating the banking system."
Bob Altemeyer

January 1, 1970

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Added on April 10, 2026
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Original Language: English

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